2024-07-12 14:01:21
Prices continue to rise, but not as much as recently. The inflation rate is 2.2 percent. However, some products have become significantly more expensive.
Inflation eased again somewhat in June. The Federal Statistical Office confirmed its first estimate on Thursday that consumer prices rose by 2.2 percent year-on-year. In May, inflation was still at 2.4 percent.
“Energy and food prices have been dampening the inflation rate since the beginning of the year,” explained Ruth Brand, President of the Federal Statistical Office. “In contrast, we continue to observe above-average price increases for services.” Compared to May, prices in Germany rose by 0.1 percent.
According to the information, energy products became cheaper by 2.1 percent. In particular, the prices of firewood and wood pellets fell year-on-year: by almost 14 percent. Electricity was 6.3 percent cheaper, natural gas 4.3 percent. Petrol and diesel cost 0.6 percent less in June than in the same month last year. District heating, however, was almost 28 percent more expensive, and light heating oil by almost eight percent.
Overall food prices rose slightly in June – but at 1.1 percent, inflation remained below overall inflation, as the statisticians emphasized. Consumers had to pay significantly more for olive oil (plus 47 percent). Sugar, jam and honey were around six percent more expensive than in June 2023, chocolate almost eleven percent. Dairy products, on the other hand, were three percent cheaper.
Prices for services rose above average – for example, for insurance by around twelve percent, restaurant visits by almost seven percent and overnight stays by around five percent. “Net rents remain significant for the price development of services, with the inflation rate here being 2.2 percent,” the statistics office pointed out. Only a few services became cheaper – including tickets for international flights (minus 6.4 percent).